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H
haligonian44
April 30, 2023
Question

Hi. Can anyone tell me how to report a loss on the T1135 (Foreign Income Verification Report)? Turbotax gives me an error when I put a negative number into the cell. Thnx

  • April 30, 2023
  • 1 reply
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    1 reply

    SamuelJ2
    SamuelJ2
    May 1, 2023

    The purpose of Form T1135 is to identify foreign property and not to calculate taxable income. For a loss you can indicate $0 for income on the T1135. 

     

    The income and the gain (loss) on the disposition of each particular specified foreign property have to be reported separately on Form T1135.

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